Nifty and Bank Nifty today continue the rally. But later, both fell from day high, and Nifty ends in red.
Today, Nifty and Bank Nifty had done a ‘Price and Time Squaring’ as per the Gann theory, a reversal setup. So, both indices can drop further or may trade in a range with a negative trend.
Now, to keep this bullish momentum, Bank Nifty needs to hold the 36400-36300 zone. On the higher side, 36800 is the resistance level.
For further upside, Nifty bulls need to hold the 16990-17010 zone. On the higher side, 17130 is the resistance level.
Nifty Intraday Gann Levels
Nifty bulls need to break & sustain above 17130 to move towards 17160/17200/17250/17310 levels.
On the lower side, the Gann support level is 17050; below that Index can move towards 17020/16980/16930/16870.
Bank Nifty Intraday Gann Levels
Bank Nifty bulls need to break & sustain above 36750 to move towards 36900/37100/37350.
On the lower side, the Gann support level is 36400; below that Bank Nifty Index can move towards 36250/36050/35800 levels.
Note: The above levels are for educational purposes only, not Buy/Sell advice.